I have been watching a lot of old touring car/pre-wing F1 videos on Youtube, and it got me thinking; what technology could be removed from F1 to make it more interesting? Automated gearboxes, steering wheels from hell, wings, 2.4L engines, etc...

Though I am currently riding a wave of nostalgia, I realize that this isn't always going to work (the banning of slicks comes to mind). I also realize that the modern retro trend has more than run its course in cars, and I am tired of it. I don't want F1 to become a throwback series, but there are aspects of it, that I believe are integral to racing, that have been lost.
There is also another part of me that wishes there was more technical freedom for the teams, and that the FIA's myopic regulations are ruining any chance of more exciting racing in the future.

I am pretty conflicted/undecided on this issue as my directionless rambling probably shows.

For instance:
I think the turbo era was great because the cars were engineering marvels and made 1,000,000 bhpz, y0. But, aren't F1 cars of any age engineering marvels? Turbocharging in F1 also doesn't really sit well with me, for whatever reason. I wouldn't mid superchargers á la the original Gran Prix cars, but no modern team would use them as they are too inefficient. But then again, maybe through their use in F1 the parasitic losses could be greatly reduced.

In that vein; should old technologies that have been banned be revitalized and legalized? I have already mentioned slicks, and I feel that their reintroduction has been a success.

But do we want ground effects and their ilk back? Surely the racing will be quicker, but will it be more interesting? I think not, probably.

Maybe what F1 needs is more clever engineering that is accessible to the semi-competent average person. But, then F1 might be slower than lesser formulae...

I realize that where this thread might eventually lead is the "UCP F1 series" and what it would be, and I guess that would be alright but try to keep it somewhat realistic. For instance, keep in mind the times we live in; you cannot simply scrap all the safety equipment to make the cars lighter and do other things in that vein. Also, please no Clarkson-esque proposals like guns on cars, sharks with "laz0rz" in Monaco's harbor, etc...

Feel free to be as scatterbrained as I have been...